Lake Shore Gold Confirms and Expands Shallow, High-Grade Gold Mineralization at Whitney ProjectTORONTO, ONTARIO--(Marketwired - Feb 4, 2016) -
Lake Shore Gold Corp. (LSG)(NYSE MKT:LSG) ("Lake Shore Gold" or the "Company") today announced results from the first 13 holes (1,600 metres) of a new surface drilling program at the Whitney Project ("Whitney"), located to the south of the Company's Bell Creek Complex. The program includes 30,000 metres ("m") of surface drilling and is designed to test a number of high-potential areas between the past-producing Hallnor and Broulan Reef mines. continues here.
- Drilling of 110 Zone to south of Hallnor shaft:
- Confirms and expands mineralization to west (Intercepts: 29.42gpt/12.0m, 8.45gpt/9.5m and 6.45gpt/9.2m)
- Extends Zone to depth (Intercepts: 4.62gpt/3.1m and 3.02gpt/10.7m)
- Drilling in north volcanics indicates potential to extend near-surface resources to north and to depth (Intercepts: 3.20gpt/7.2m, 1.21gpt/15.0m and 2.24gpt/8.5m)
- 30,000 metre exploration program continuing with two surface drills.
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There's a big difference between releasing news of exploration programs in early February rather than early March of any given year.
1) One of them is a strategy intended to wow the retail audience at PDAC at the start of March. The timing is splashy in in-yer-face-that-day to get people talking about you.
2) The other one is to make sure big hitters who get the VIP rooms and fly private jets into the BMO Global Metals & Mining Conference in Florida at the end of February have plenty of opportunity to think you over before the real money gets together.
Both are valid strategies. Guess which one Lake Shore Gold (LSG) (LSG.to) is using?